The New Zealand dollar touched its lowest level against the U.S. dollar in more than a year on Monday after data showed the country's central bank sold large amounts of the currency in August, increasing expectations of further intervention.

The Reserve Bank of New Zealand sold a net 521 million New Zealand dollars (US$409.8 million) in August, the most since July 2007, and significantly more than the NZ$2 million it sold in July this year, data released by the central bank showed.